Middle School

Supply and demand, producers and consumers, types of economic systems (market, command, mixed), inflation, unemployment, and GDP as measures of the economy, the role of trade and globalization in connecting economies, imports and exports, the basics of personal finance (saving, budgeting, spending, credit, and debt), the role of businesses and entrepreneurship, how businesses operate and make a profit, supply chains and how goods are made and sold, the impact of government policies on the economy (taxes and government spending), and major historical economic events such as the Great Depression.

Students will be asked to identify these economic concepts, economists, important economic events, and businesses.

‍Ex: Franklin Roosevelt's slate of economic policies to combat the Great Depression were known by what two-word term?

‍A: New Deal

High School

Fundamental economic principles, including scarcity, opportunity cost, and decision-making; the law of supply and demand and its effects on prices; types of economic systems (market, command, mixed) and their strengths and weaknesses; key macroeconomic indicators, including GDP, inflation, unemployment, and economic cycles; the role of trade, globalization, and international organizations such as the IMF and WTO; imports, exports, and trade policies such as tariffs and free trade agreements; personal finance topics, including banking, credit, debt, investing, and financial responsibility; the structure and function of businesses, including entrepreneurship, corporate organization, and supply chain management; how businesses generate profit, the role of innovation, and the impact of emerging markets; government economic policies, including taxation, fiscal policy, and monetary policy; and historical economic events, such as the Great Depression, the 2008 financial crisis, and their long-term consequences.

Students should be able to identify these concepts and also solve situational problems as it relates to economics. 

‍Ex: Imagine you are head of the Federal Reserve during a financial crisis. You want to stimulate economic growth by having your bank buy assets to increase the money supply. What is this term called?

‍A: Quantitative Easing